By now, you have probably heard the term "NFT" floating around in various news headlines, crypto circles, and art blogs, but what does it mean? NFTs, or Non-Fungible Tokens, are unique, digital items that can be created, bought, and sold using Ethereum's blockchain technology. These tokens range in variety from digital artwork, domain names, virtual worlds, music, and more.
Considered by many to be the future of art collecting, NFTs are intriguing for both artists and collectors. Not only does the artist earn a percentage of each sale made after the token's initial sale, but collectors can value their newly acquired NFT at whatever they like. One such digital artist, Beeple, recently sold an NFT for $69 million...(yes, you read that correctly).
OpenSea: Home of the NFTs
So how do you get involved? Head over to OpenSea, the Internet's most popular NFT hosting site. Here, you can browse thousands of NFTs for free. In order to purchase or create an NFT, there are a few steps you will need to take:
Create a crypto account: Because NFTs are managed by the Ethereum blockchain, you will need to log in using your crypto account information. Don't worry, this is completely free and will only cost you money if you wish to buy crypto or purchase an NFT. Here at LJP Fine Art, we use Coinbase.
Create a crypto wallet and connect it to your crypto account: After making a Coinbase account, create a Coinbase wallet and connect it to your Coinbase account.
Check out Lindsey's first NFT, "Battle Man #001" (below)